by Birch | Nov 30, 2023 | Uncategorized
Since 2015, employers submitting at least 250, 1095 forms to the IRS have been required to file the forms electronically. Beginning in 2024 (for the 2023 ACA reporting year) employers filing at least 10 forms with the IRS will be required to file electronically....
by Birch | Nov 14, 2023 | Uncategorized
On November 9, 2023, the Internal Revenue Service issued Revenue Procedure 2023-34 that establishes various 2024 tax-related limits that have been adjusted for inflation. The table below identifies updates to the 2024 health and fringe benefit plans addressed in this...
by Birch | Sep 26, 2023 | Uncategorized
The 2024 health plan affordability threshold* is dropping next year, according to the recent announcement by the IRS. This change, detailed in IRS Rev. Proc. 2023-29, marks a significant decrease in the affordability threshold compared to 2023 and is the lowest since...
by Birch | Jul 31, 2023 | Uncategorized
The federal Departments of Health and Human Services, Labor, and Treasury recently issued a proposed regulation that would significantly change how many employer-sponsored hospital indemnity, specified disease, and other fixed indemnity insurance plans are designed....
by Birch | Jul 17, 2023 | Uncategorized
Late last week, the Departments of Health and Human Services, Labor, and Treasury (the Departments) published a set of FAQs that clarify how certain surprise billing protections interact with the Affordable Care Act’s (ACA) maximum out-of-pocket limit (OOP)...
by Birch | Jun 26, 2023 | Uncategorized
The federal Section 125 “cafeteria plan” regulations permit health plans to reimburse participants for qualifying medical and dependent care expenses on a pre-tax basis through health flexible spending accounts (FSAs) and dependent care assistance plans (DCAPs)...
